Ester Filmtech to set up Rs 1350 crore packaging film plant
Ester Filmtech, a wholly-owned subsidiary of Ester Industries, has announced that it will set up an advanced polyester film manufacturing facility in Telangana. The total investment of the entire project is approximately Rs 1350 crores in three phases. Implementation of first phase with a capital outlay of Rs 500 crores is scheduled to be completed by third quarter of calendar year 2022.
The project will create direct employment potential for about 800 people. The end products of the proposed unit will find its applications in the packaging material and will help contributing towards strengthening the value chain of flexible packaging industry. The company proposes to export 30-40% of its production, which will help to establish Telangana’s footprint on global flexible packaging map.
Arvind Singhania, chairman of Ester Filmtech, said, “The company has chosen Telangana state due to industry friendly policies and growth oriented approach of the chief minister K Chandra Sekhar Rao and minister KT Rama Rao. As compared to other states, Telangana is far ahead in respect of investment friendly climate, ease of doing business, industry friendly policies like TSI-pass, T-IDEA etc.”
The company has its corporate headquarters in Gurgaon, Haryana, while its state-of-the-art manufacturing facility is located at district Khatima, Uttarakhand. The company has over 30 years of experience in manufacturing world-class products.